StockNews.com Downgrades Ellington Financial (NYSE:EFC) to Sell

Ellington Financial (NYSE:EFC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Separately, Keefe, Bruyette & Woods cut their price target on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.06.

Ellington Financial Price Performance

Shares of Ellington Financial stock traded up $0.09 during trading hours on Wednesday, reaching $11.12. The company’s stock had a trading volume of 605,041 shares, compared to its average volume of 1,126,650. The firm has a 50 day moving average price of $11.55 and a 200-day moving average price of $12.27. Ellington Financial has a one year low of $10.88 and a one year high of $14.21. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The stock has a market cap of $945.44 million, a P/E ratio of 12.35 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last posted its earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same quarter last year, the firm earned $0.42 earnings per share. On average, analysts predict that Ellington Financial will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Ellington Financial

A number of hedge funds have recently added to or reduced their stakes in EFC. PNC Financial Services Group Inc. lifted its position in shares of Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 759 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Ellington Financial in the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its position in Ellington Financial by 100.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 1,424 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Ellington Financial during the third quarter valued at approximately $45,000. Finally, Money Concepts Capital Corp purchased a new stake in Ellington Financial during the fourth quarter valued at approximately $49,000. 55.62% of the stock is currently owned by institutional investors.

Ellington Financial Company Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.